Commerce Secretary Wilbur Ross joined FOX Business on Friday to discuss changes to NAFTA and deregulation.
Ross, who has had success putting other countries on notice over fair trade, said he wants to even the playing field when it comes to Mexico. He said NAFTA talks include stricter auto rules of origin.
“Sales have left our side, gone to factories in Mexico and now are even moving outside of Mexico to Southeast Asia—that’s not the purpose of a trade agreement,” Ross told Maria Bartiromo on “Mornings with Maria.”
Ross said the changes would also be fairer to American small businesses.
“Corporate America can put factories wherever they want but Mr. and Mrs. America are not so mobile. They are the ones being hurt by the whole thing and they are the ones President Trump is determined to help,” he said.
The former billionaire investor also discussed how the Trump administration is reigning in Obama-era regulations.
He said President Trump has already “knocked out” 860 rules and regulations and plans to “dig out” and replace, the somewhat 7,000 new rules implemented during President Obama’s last two years in office. In his opinion, lower regulations are having a positive impact on U.S. GDP.
“Every CEO who comes in to see me—one of the first things he says is how happy he is with the reduction in regulatory burden… Because it not only is expensive, it also paralyzes decision making,” he said.